Log In
READY TO TALK WITH US ?
Call Now
+ 61 7 3221 3499
E-mail Us
info@assetvaluer.net
HOME
ABOUT
ORIGINS
OVERVIEW
KEY FEATURES
BENEFITS
OUTPUTS
TYPE OF ASSETS
IMPLEMENTATION PROCESS
PRICING & DEMO
VIDEOS
APPLICATION
IPSAS IMPLEMENTATION
DO IT YOURSELF
CASE STUDIES
PARTNERS
APV
CT MANAGEMENT GROUP
SUPPORT
FORUM
EVENTS
Event Programs
CONTACT
Members
More...
Use tab to navigate through the menu items.
Forum Comments
Impairment after revaluation
In General Issues
DAVID EDGERTON
Feb 25, 2018
In past years the Qld Audit Office would have required the councils to process an impairment adjustment to reflect the reduction in value. However now that AASB136 no longer applies to specialised public sector assets that are not cash generating (as from periods beginning 1 Jan 2017) this option is no longer available. Under AASB116 the carrying amount would now be significantly different than the Fair Value and therefore triggering the need for a revaluation of the entire class of asset. This is one of the many reasons why entities should revalue as at the end of the financial year each year.
2
0
Profile
Forum Posts
Forum Comments
DAVID EDGERTON
Admin
0
Followers
0
Following
Follow
Following icon
More actions